PepsiCo, Inc., reported the following information about its long-term debt in the notes to a recent financial statement (in millions):
Long-term debt is comprised of the following:
December 31
Current Year Previous Year
Total long term-debt...................$33,284..................$28,897
Less current portion................... .(4,071) ...................(5,076)
Long-term debt........................$29,213...................$23,821
a. How much of the long-term debt was disclosed as a current liability on the current year's December 31 balance sheet?
b. How much did the total current liabilities change between the preceding year and the current year as a result of the current portion of long-term debt?
c. If PepsiCo did not issue additional long-term debt next year, what would be the total long-term debt on December 31 of the upcoming year?